Crypto Traders Face Massive Losses as Bitcoin Price Plummets Amid Middle East Crisis
Cryptocurrency traders suffered over $100 million in liquidation losses as digital asset prices plummeted amid escalating tensions in the Middle East. Long positions worth $105 million were wiped out, with ETH derivatives traders experiencing the largest losses. Bitcoin, ether, solana, Polygon's native token, and Polkadot all saw significant declines before rebounding slightly. Liquidations occur when traders fail to meet margin requirements or lack sufficient funds to keep positions open.